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Home My WebLink AboutINNOVATION ISLAND, FIRST FILING - FDP - 40-05B - CORRESPONDENCE - AFFORDABLE HOUSING MEMO. (3)Neighborhood 4 Building Services r� 281 N. College Ave. Fort Collins, CO 80521 Phone:970-221-6760 Fax:970-224-6134 BUILDING PERMIT # : B0703848 uc :.,. o' I c,rt < ntGnN .lob site address: Building Valuation: $0.00 Category: Permit type: General Transactions: Check CK# 1370 06/15/2007 $14,146.50 INNOVATION ISLAND "BUY OUT' CONVERSION FROM AFFORDABLE HOUSING PD BY FORT COLLINS HABITAT FOR HUMANITY, INC. CK#1370 Receipt issued: 06/15/2007 Total Paid to Date: $14,146.50 Description Account Code Fee Amount Amount Paid Date Paid Amount Due Planning: Dev. Review 101.341112 $5,879.00 $5,879.00 06/15/2007 $0.00 Planning: Dev. Review 101.341112 $1,000.00 $1,000.00 06/15/2007 $0.00 Planning: Sign Posting 101.369958 $50.00 $50.00 06/15/2007 $0.00 Transportation Dev Review 360100.341133 $1,000.00 $1,000.00 06/15/2007 $0.00 Transportation Dev Review 360100.341133 $6,217.50 $6,217.50 06/15/2007 $0.00 TOTAL FEES $14,146.50 $14,146.50 TO" m!y<I%ee'�%i� ft (/ie w $0.00 1 1 F FORT COLLINS HABITAT FOR HUMANITY, INC. CONSTRUCTION ACCOUNT 4001 S. TAFT HILL RD. FT COLLINS, CO 80526 (970)223-4522 HOME STATE BANK FORT COLLINS, CO 80526 82-477-1070 6/8/2007 PAY TO THE ORDER OF City Of Fort Collins $ **14,146.50 Fourteen Thousand One Hundred Forty -Six and s City of Fort Collins 330 S College Avenue PO Box 580 Fort Collins, CO 80522-0580 MEMO PDP and FDP fees 11'00137011' 1:10?0047110 FORT COLLINS HABITAT FOR HUMANITY, INC. CONSTRUCTION ACCOUNT City of Fort Collins 6/8/2007 Date Type Reference Original Amt. Balance Due Discount Payment 6/8/2007 Bill Innovation Island 14,146.50 14,146.50 14,146.50 Check Amount 14,146.50 Construction PDP and FDP fees 5 14,146.50 1370 a DOLLARS v >s s s N I 1370 Q RECEIPT CJlflf� O�eJ'Li/� lJC�1112u �-�`-••'_--•�-a� (>� 40- � CITY OF FORT COLLINS NEIGHBORHOOD & BUILDING SERVICES 281 N. COLLEGE AVE. Phone:970-221-6760 Fax:970-224-6134 Application Type: Building / Misc / General / NA Application #: B0703848 Project Name: INNOVATION ISLAND Address: Owner Name: Receipt No.: -?1�-23 Payment Method Ref Number Amount Paid Payment Date Cashier ID Comments INNOVATION ISLAND "BUY OUT' CONVERSION FROM CheCK 1370 $14,146.50 06/15/2007 11:16:31 AM SLINDELL AFFORDABLE HOUSING PD BY FORT COLLINS HABITAT FOR HUMANITY, INC. CK#1370 Owner Info.: Work "BUY OUT" TRANSACTION CONVERTING FROM AFFORDABLE HOUSING FOR INNOVATION ISLAND PROJECT Description: - DEVELOPMENT REVIEW - NEW SUBDIVISION PLAT & SIGN POSTING FEE ($5929), TDRF FEES FOR NEW SUBMITTAL ($6,217.50) DEVELOPMENT REVIEW - FINAL PLAN SUBMITTAL WITH SUBDIVISION PLAT ($1,000), TDRF FINAL FEE ($1,000) PD BY FORT COLLINS HABITAT FOR HUMANITY, INC. CK41370 zay Y(�6'Xd C�I IZ�S Steve Olt'- RE: Innovation Island Page 3 Project Development Plan You recently made me aware that Habitat for Humanity is going to be selling the project and I do not recall who the new property owner/developer will be. Is the new developer intending to construct qualified affordable housing units? After a discussion with Paul Eckman, the Deputy City Attorney, it is our intent to add to the Development Agreement a paragraph about the requirement for the current property owner, or any successors, to ensure provision for affordable housing on this property (for a specified period of years) as previously approved. Will this be a problem for Habitat for Humanity? I look forward to your quick response as I am aware that you have a scheduled closing on the property coming up very soon. Steve Olt City Planner Planning & Zoning Department 970-221-6341 solt onfcpov.com CC: Candace Mayo; cynthia.torp@coloradohomes.com; Heidi Phelps; Marc Virata; torpc@msn.com Steve Olt - RE: Innovation Island Page 2 Thanks. Ken >>> "Candace Mayo" <cmavo(a)fortcollinshabitat.org> 05/31/07 6:42 PM >>> Hi Steve, Thanks for getting back to me so soon. No, I don't think making this change in the development agreement will be an issue to the purchaser. The purchasers are under an LLC name, so I don't know the exact names of all the partners, but I understand they are all local folks. The only one I've met is Fred Fuller. He was a former pastor and now, in his new career, a builder. They told me they were interested in Innovation Island BECAUSE they wanted to do affordable housing for families at 80% AMI or below. In fact, they attested to that fact in the contract. I stipulated when I sold it to them that I expected it to be qualified affordable project and that the City did too. If you add that paragraph to the development agreement, I don't think it will be an issue, but I'm not absolutely certain. I know that Habitat's agreement with the City has always been that we would replace any unit that sells with another affordable unit. We've never had deed restrictions. Is that how you intend to insure affordability? I'm copying Cynthia Torp on this e-mail to you. Cynthia is the Realtor representing the purchaser with Coldwell Banker. Cynthia, do you think this will be an issue for the purchasers? If so, do a "respond all" so we know right away. Steve, could you do a "respond all" and give us a "read" on how the City would propose to specify the affordability period? Candace Mayo Executive Director Fort Collins Habitat for Humanity, Inc. 4001 S. Taft Hill Road Fort Collins, CO 80526 Phone: 970-488-2602 Fax:970-223-4524 cmavo(a)fortcollinshabitat.org www.fortcollinshabitat.org -----Original Message ----- From: Steve Olt fmailto:SOLT(a)fcgov.coml Sent: Thursday, May 31, 2007 4:35 PM To: Candace Mayo Cc: Cameron Gloss; Heidi Phelps; Ken Waido; Marc Virata; Sheri Langenberger; Paul Eckman Subject: Innovation Island Candace, As the Development Agreement is being routed in the City for final review and signatures, a concern has been brought up about the potential status of the approved affordable housing on the Innovation Island Steve Olt - RE: Innovation Island Page 1 From: Steve Olt To: Ken Waido; Paul Eckman Date: 06/01/2007 3:12:22 PM Subject: RE: Innovation Island With regards to a "buy out" for the affordable housing requirement/guarantee, here are the numbers associated with fees waived during the Project Development Plan (PDP) and Final Development Plan (FDP) phases of development review by the City: PDP: * PDP with subdivision plat and sign posting fee ......... $5,929.00 (to the Current Planning Department) * Transportation Development Review Fee (TDRF) ..... $6,217.50 (to the Engineering Department) FDP: * Final Plan with subdivision plat ............................ $1,000.00 (to the Current Planning Department) * TDRF (up to 2 rounds of review) ......................... $1,000.00 (to the Engineering Department) The total amount for the PDP and FDP fees waived by the City for review of the affordable housing project is $14,146.50. This does not include the normally required fee for notifying the Affected Property Owners (APO) within 1,000 feet of the project site when the project went to a Planning & Zoning Board public hearing. The APO notification fee is $0.75 per mailing label to the property owners to be notified. Steve. >>> Ken Waido 06/01/2007 10:18 AM >>> Steve and Paul, I want to share my thoughts and concerns on this project. I am also using "Reply to All" so everyone is aware of my thoughts/concerns. Innovation Island was qualified as an Affordable Housing Project and received some Administrative Incentives (Reduced Development Procession Application Fee, Priority Processing, etc.) from the City. The City has not committed any financial resources (CDBG/HOME or Affordable Housing Funds) to the project. The City expects the project to be developed as affordable housing and needs to "guarantee" that development to the maximum extent possible. To me a "Deed Restriction" is the best way, but if there are other effective methods, I would be open to those too. There is a way for Habitat, or the new owner, to "buy out" of the affordable housing requirement. We have a precedent with Cherokee Heights Project on Taft Hill Road. Staff would need to review what was done with Cherokee Heights (because Maurice did the work) and assign a monetary value to the incentives the City has granted to Innovation Island. Once a payment is received, the City can release the affordable housing requirement. Cynthia Torp, the listing real estate agent, is a member of the City's CDBG Commission. As indicated above, Innovation Island has not received any financial commitments from the City. However, Habitat routinely applies to the City for financial aid. And, this spring Cynthia had to submit a Conflict of Interest Disclosure Statement on a different Habitat project and assign the real estate work to a different agent. I am concerned about this continued relationship with Habitat and the perception regarding conflict of interest it may have on the Commission and the City during the Competitive Process. I am open to meeting and discussing my thoughts and concerns if the need should arise